Vornado CEO Fascitelli Stepping Down

By

Eliot Brown and

Craig Karmin

Updated Feb. 27, 2013 12:49 p.m. ET

Michael Fascitelli, the chief executive of Vornado Realty Trust, announced Wednesday he was resigning from his post, a surprising shift atop one of the largest landlords of office buildings and retail space in the country.

Mr. Fascitelli, 56 years old, will be succeeded by Steven Roth, the company's chairman who built the company and had served as its CEO before Mr. Fascitelli. On Vornado's quarterly earnings call held Wednesday,...